And for a total of $5 per month, you can add Acorns Family, which includes the features of the first two tiers as well as investment accounts for children. Acorns is one of the older of the new breed of finance apps, but it remains one of the most popular, because of how easy it is to use.
In January 2019, it formed a joint venture with ZhongAn Insurance to build a digital insurance marketplace. Since then, its financial services portfolio has grown through a series of partnerships and the acquisition of Bento, which allowed it to offer investment and wealth management services as well. When investing on a budget, paying excessive commission fees can leave your portfolio looking hamstrung before you even have a chance to get started. Micro-investing won’t help you reach all of your retirement goals, but it’s a good way to start saving if you’re in a tight financial situation. The most important thing is to start investing and increase the small amounts you’re putting away over time.
Micro investing apps aren’t intended to be the solution to traditional investing. They’re good for certain purposes, and not great for others. But if you use them right, they can help propel you forward towards your financial goals. Based in Singapore, Grab began in 2012 as a ride-hailing company before expanding into on-demand deliveries and other services.
The company’s premium offering, Stash+, offers two additional investing balances for youth, and the metal card with dual Stock-Back rewards, along with the platform’s standard features. A tiny investment can take a while to ‘build up’ to some sizeable amount, however along with patience you will observe your funds advance to the worthwhile sum.
Most micro venture capital firms pursue startups that are at their seed stage because of their lower initial cost basis. Webull was letting investors trade stocks for free before it suddenly became the cool thing to do, but also offers commission-free trades on options and ETFs. Plus, this broker offers no-fee trades on cryptocurrencies, including Bitcoin, Ethereum and Litecoin, at all hours of the day and night. On top of that, investors can enjoy full extended-hours trading — both morning and evening. Webull still passes on regulatory and exchange fees, which are small.
You really don’t have to pay much attention once you’ve set up the app. Link a debit or credit card to your account, and Acorns will round up the total on purchases to the next dollar and invest that difference into one of a few ETF portfolios. All of these apps are great for beginners, and they make it easy for those just starting to invest or someone searching to play a stock-picking game for fun. Put provides users with 3 tiered plans with regular monthly costs of $1, $3, and $9.
If you want a hands-off approach to investing, Acorns is going to be your best bet. After you sign up, you’ll connect your credit card or debit card to Acorns. Every time you make a purchase, Acorn rounds it up to the nearest dollar and deposits that “spare change” into your account.
Betterment offers two different plans, and the most basic plan doesn’t require any upfront balance to get started. Betterment is a great option for anyone that wants an easy investing option while still maintaining a little bit of control over their investment portfolio.